宁海县服务业发展规划ile

TotalRewardsandCompensationTotalRewardsMonetaryandnon-monetaryrewardsusedtoattract,motivate,andretainemployeesRewardsSystemStrategicObjectivesLegalcomplianceCosteffectivenessInternalandexternalequityforemployeesRecognizingcontributiontomaximizeperformanceandmanagetalent1CompensationApproachesTraditionalApproachTotalRewardsApproachCompensationprimarilybasepayBonusesforexecutivesonlyFixedbenefitstiedtoseniorityPaygradeprogressionbasedonorganizationalpromotionsOneorganization-widepayplanforallemployeesVariablepayusedwithbasepayAnnual/long-termincentivesprovidedtoallemployeesFlexibleandportablebenefitsofferedKnowledge-basedbroadbandsdeterminepaygradesMultiplepayplansconsiderjobfamily,location,andbusinessunits2TotalRewardsComponents3CompensationPhilosophies4HRMetricsforCompensation5TypicalDivisionofHRResponsibilities:Compensation6CompensationSystemDesignIssuesFairnessInternalEquityProceduralDistributiveInteractionalExternalEquityPrivacyTransparency7MarketCompetitiveness

andCompensation

LeadthemarketMeetthemarketLagthemarket8CompensationQuartileStrategies9MoreCompensationSystemDesignIssuesIdentificationoftherequiredcompetenciesProgressionandcompensationofemployeesLimitationsonwhocanacquiremorecompetenciesTrainingintheappropriatecompetenciesCertificationandmaintenanceofcompetenciesCompetency-BasedPaySystems10MoreCompensationSystemDesignIssuesTeamHowtodevelopcompensationprogramsthatbuildontheteamconcept.IndividualHowtocompensatetheindividualswhoseperformancemayalsobeevaluatedonteamachievements.Individualvs.TeamRewards11PossibleComponentsofGlobalEmployeeCompensation12LegalConstraintsonPaySystemsMinimumwageChildlaborExemptvs.nonexemptstatusOvertime13ExemptStatusUndertheFLSA14CompensationforOvertimeWorkCommonOvertimeIssuesCompensatoryTimeOffIncentivesforNon-exemptsTraining

TimeTravel

Time15LegislationAffectingCompensationCompensationandtheLawDavis-BaconAct

Walsh-HealyAct

McNamara-O’HaraActEqualPayAct

of1963and

PayEquityStateand

LocalLawsGarnishmentLaws16CompensationAdministrationProcessPayStructurePaygradesPayranges17ValuingJobswithJobEvaluationMethodsJobEvaluationMeansusedtoidentifytherelativeworthofjobswithinanorganization.CompensableFactorJobvaluecommonamongagroupofjobs.Somethingforwhichanorganizationchoosestocompensateanemployee.18ExamplesofCompensableFactorsforDifferentJobFamilies19JobEvaluationMethodsJobEvaluationMethodsPoint

MethodRankingMethodClassificationMethodFactor-ComparisonMethod20JobEvaluationMethodsPointmethodRankingmethodClassificationmethodFactor-comparisonmethod21ValuingJobsUsingMarketPricingMarketPricingUsingmarketdatatoidentifytherelativevalueofjobsbasedonwhatotherfirmspayforsimilarjobs.AdvantagesDisadvantagesTiesorganizationalpaylevelstotheexternaljobmarket,without“internal”jobevaluationdistortion.Communicatestoemployeesthatthecompensationsystemis“marketlinked.”Itreliesonmarketsurveydata.Aspecificjobmaydifferfroma“matching”jobinthesurvey.Themarketdata’sscope(rangeofsources)isaconcern.Tyingpaylevelstomarketdatacanleadtowidefluctuations.22PaySurveysCollectionofdataoncompensationratesforworkersperformingsimilarjobsinotherorganizations.BenchmarkJobsJobsfoundinmanyorganizations.Internet-BasedPaySurveys23PayStructuresJobFamilyGroupofjobswithcommonorganizationalcharacteristics.CommonPayStructuresHourlyandsalariedOffice,plant,technical,professional,managerialClerical,informationtechnology,professional,supervisory,management,andexecutivePayGradesGroupingsofindividualjobshavingapproximatelythesamejobworth.24CompensationAdministrationProcess25MoreonPayStructuresMarketBandingGroupingjobsintopaygradesbasedonsimilarmarketsurveyamounts.MarketLineShowsrelationshipbetweenjobvalueasdeterminedbyjobevaluationpointsandjobvaluebasedonpaysurveyrates.ShowsdistributionofpayforsurveyedjobsLineartrendlinetobedevelopedbytheleast-squaresregressionmethod.26Market-BandedPayGradesExample(Bank)*Computedbyaveragingthepaysurveysummarydataforthejobsineachpaygrade.27ExampleofPayGradesandPayRanges28PayRangesBroadbandingUsingfewerpaygradeshavingbroaderpayrangesthatintraditionalsystems.BenefitsEncourageshorizontalmovementofemployeesIsconsistentwithtrendtowardsflatterorganizationsCreatesamoreflexibleorganizationEncouragescompetencydevelopmentEmphasizescareerdevelopment29IndividualPayRatesOutofRangeRed-CircledEmployeeAnincumbent(currentjobholder)whoispaidabovetherangesetforthejob.Green-CircledEmployeeAnincumbentwhoispaidbelowtherangesetforthejob.PayCompressionPaydifferencesamongindividualswithdifferentlevelsofexperienceandperformanceintheorganizationarereduced.30PayAdjustmentMatrixCompa-ratioThepayleveldividedbythemidpointofthepayrange.8931StandardizedPayAdjustmentsStandardizedPayIncreasesSeniorityCost-of-LivingAdjustments

(COLA)Across-the-Board

IncreasesLump-SumIncreases

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